Onsemi (NASDAQ:ON) Position Lessened by Mizuho Securities Co. Ltd.

Mizuho Securities Co. Ltd. lowered its stake in shares of Onsemi (NASDAQ:ON) by 29.8% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,620 shares of the semiconductor company’s stock after selling 1,110 shares during the quarter. Onsemi makes up approximately 2.5% of Mizuho Securities Co. Ltd.’s holdings, making the stock its 15th largest position. Mizuho Securities Co. Ltd.’s holdings in Onsemi were worth $166,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in ON. Newbridge Financial Services Group Inc. bought a new stake in shares of Onsemi during the fourth quarter valued at approximately $41,000. Safe Harbor Fiduciary LLC acquired a new stake in Onsemi in the 3rd quarter valued at approximately $43,000. Synergy Asset Management LLC bought a new stake in Onsemi during the 4th quarter valued at $51,000. Plato Investment Management Ltd acquired a new position in Onsemi during the 4th quarter worth $51,000. Finally, Rakuten Securities Inc. grew its stake in shares of Onsemi by 434.6% in the fourth quarter. Rakuten Securities Inc. now owns 850 shares of the semiconductor company’s stock worth $54,000 after purchasing an additional 691 shares in the last quarter. 97.70% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ON shares. Truist Financial cut their price objective on shares of Onsemi from $60.00 to $52.00 and set a “hold” rating on the stock in a research note on Tuesday, February 11th. Craig Hallum reduced their price target on shares of Onsemi from $78.00 to $50.00 and set a “hold” rating for the company in a research note on Tuesday, February 11th. Benchmark lowered their price objective on shares of Onsemi from $90.00 to $60.00 and set a “buy” rating on the stock in a research note on Wednesday, February 12th. Wells Fargo & Company cut their target price on Onsemi from $80.00 to $60.00 and set an “overweight” rating for the company in a research report on Tuesday, February 11th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $57.00 price target on shares of Onsemi in a research report on Monday, March 3rd. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $66.50.

Onsemi Stock Down 0.8 %

NASDAQ:ON opened at $45.31 on Wednesday. The firm has a market capitalization of $19.09 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 16.74 and a beta of 1.59. Onsemi has a 1-year low of $41.59 and a 1-year high of $80.08. The company has a current ratio of 5.06, a quick ratio of 3.38 and a debt-to-equity ratio of 0.38. The business’s fifty day moving average price is $49.59 and its 200 day moving average price is $61.69.

Onsemi (NASDAQ:ON) last released its earnings results on Monday, February 10th. The semiconductor company reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.98 by ($0.03). Onsemi had a net margin of 22.21% and a return on equity of 20.10%. On average, sell-side analysts forecast that Onsemi will post 2.6 earnings per share for the current fiscal year.

Onsemi Company Profile

onsemi is engaged in disruptive innovations and also a supplier of power and analog semiconductors. The firm offers vehicle electrification and safety, sustainable energy grids, industrial automation, and 5G and cloud infrastructure, with a focus on automotive and industrial end-markets. It operates through the following segments: Power Solutions Group, Advanced Solutions Group, and Intelligent Sensing Group.